Minister Shala imposes companies to clean up derivative reserves

Trade and Industry Minister Endrit Shala has signed administrative guidelines forcing companies selling derivatives to clean up reserves every three years.

Minister Shala has said this is being done for the first time, with the aim of protecting the consumer.

“for the first time will be cleaned up reserves of derivative pumps in the Republic of Kosovo with consumer protection. A few weeks ago I signed the Administrative Guide to which companies that trade derivatives on our market clean up the derivative reserves every 3 years”, said Minister Shala.

According to an MTI communique, Shala has indicated there have been many complaints about oil quality, but now every company that wants to be licensed must clear the reserves.

For 20 years in a row in Kosovo we have had complaints about oil quality, we have been challenged for quality control, but we have never until now forced companies to clean up the reserves in which they keep these derivatives. Currently, each company that is licensed to trade with derivatives will have one of the key criteria for cleaning reserves, protecting the consumer. Cleaning will take place in full line with European standards, while increasing quality on the local market”, Shala said.

The minister has stressed that it will continue in control and increased quality for consumer protection.

I stand firm for quality control and consumer protection, and the new oil law has already been re-elected and will soon be in the country. There, we present further steps with the aim of increasing quality, market control, increased revenues for the state with the sole aim of protecting the consumer”, Shala said.